Overview

• U.S. biotech firm's Q1 net loss narrowed, with lower R&D and restructuring expenses

• Company ended Q1 with $74.7 mln in cash, seen funding operations beyond 2027

• Instil Bio is evaluating potential acquisitions and in-licensing of new therapeutic candidates

Outlook

• Instil expects cash position to fund current operating plan beyond 2027

• Company is evaluating potential acquisitions and in-licensing opportunities for novel therapeutics

• No assurance any acquisition or in-licensing transaction will occur or on timing

Result Drivers

• LOWER OPERATING EXPENSES - Co's net loss narrowed as research and development and restructuring expenses declined sharply from prior year

• STRATEGIC REVIEW - Co said it is refining its strategy and evaluating acquisitions and in-licensing to expand its pipeline

Company press release: ID:nGNX9BtmYX

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Net Income		-$4.2 mln
Q1 Basic EPS		-$0.62

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Instil Bio Inc is $66.00, about 720.4% above its May 14 closing price of $8.05

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